Parametric Portfolio Associates LLC reduced its position in NMI Holdings Inc (NASDAQ:NMIH) by 62.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,142 shares of the financial services provider’s stock after selling 27,211 shares during the period. Parametric Portfolio Associates LLC’s holdings in NMI Holdings were worth $184,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in NMI Holdings by 43.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,637,267 shares of the financial services provider’s stock worth $17,437,000 after buying an additional 497,745 shares during the period. State Street Corp raised its position in NMI Holdings by 2.1% in the fourth quarter. State Street Corp now owns 916,665 shares of the financial services provider’s stock worth $9,761,000 after buying an additional 19,024 shares during the period. American Century Companies Inc. raised its position in NMI Holdings by 14.2% in the first quarter. American Century Companies Inc. now owns 605,264 shares of the financial services provider’s stock worth $6,900,000 after buying an additional 75,363 shares during the period. Bank of New York Mellon Corp raised its position in NMI Holdings by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 481,960 shares of the financial services provider’s stock worth $5,494,000 after buying an additional 19,354 shares during the period. Finally, Russell Investments Group Ltd. raised its position in NMI Holdings by 170.7% in the first quarter. Russell Investments Group Ltd. now owns 356,032 shares of the financial services provider’s stock worth $4,059,000 after buying an additional 224,492 shares during the period. 80.73% of the stock is owned by hedge funds and other institutional investors.
Shares of NMI Holdings Inc (NASDAQ NMIH) opened at 12.45 on Tuesday. The firm’s 50-day moving average price is $11.50 and its 200-day moving average price is $11.25. NMI Holdings Inc has a 12 month low of $6.42 and a 12 month high of $12.70. The stock has a market capitalization of $745.28 million, a P/E ratio of 9.90 and a beta of 0.64.
NMI Holdings (NASDAQ:NMIH) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The business had revenue of $42.20 million for the quarter, compared to analysts’ expectations of $41.13 million. NMI Holdings had a return on equity of 5.95% and a net margin of 52.34%. The business’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, equities research analysts forecast that NMI Holdings Inc will post $0.54 EPS for the current year.
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NMIH has been the subject of a number of research reports. Zacks Investment Research lowered NMI Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Deutsche Bank AG initiated coverage on NMI Holdings in a research note on Wednesday, July 5th. They set a “buy” rating and a $14.50 price target for the company. Compass Point lowered NMI Holdings from a “buy” rating to a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods lowered NMI Holdings from an “outperform” rating to a “market perform” rating and set a $13.00 price target for the company. in a research note on Monday, July 17th. Finally, BidaskClub lowered NMI Holdings from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.60.
In related news, Director Regina Muehlhauser bought 10,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were acquired at an average cost of $11.03 per share, for a total transaction of $110,300.00. Following the acquisition, the director now directly owns 21,578 shares in the company, valued at approximately $238,005.34. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bradley M. Shuster sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $11.79, for a total value of $353,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,227 shares of company stock worth $1,873,071. Insiders own 5.40% of the company’s stock.
About NMI Holdings
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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